Leeds-based Asda has confirmed that funds managed by TDR Capital LLP have completed the acquisition of Zuber Issa’s shares in the business.

This brings the ownership of Asda to 67.5% by TDR Capital, 22.5% by Mohsin Issa, and 10% by Walmart Inc.

Blackburn-based billionaire brothers Mohsin and Zuber Issa and TDR Capital completed the £6.8 billion acquisition of a majority ownership stake in Asda from Walmart Inc. in 2021.

Private equity firm TDR Capital LLP said in June 2024 it agreed to acquire Zuber Issa’s shares in Asda.

In September 2024 Asda announced that Mohsin Issa is stepping back from his executive leadership role at the supermarket giant to focus on his previously announced role as sole CEO of EG Group, the Blackburn-based petrol forecourt and retail company.

Asda said: “Following the announcement of the proposed transaction in June 2024, today Asda has confirmed that funds managed by TDR Capital LLP have completed the acquisition of Zuber Issa’s shares in the business.

“This brings the ownership of Asda to 67.5% by TDR Capital, 22.5% by Mohsin Issa, and 10% by Walmart Inc.

“Following completion of the sale of his stake in Asda, Zuber Issa has stepped down from his non-executive role on Asda’s board.

“Asda’s board now comprises Lord Rose, Alison Carnwath, Mohsin Issa, Rob Hattrell, Gary Lindsay and Courtney Naudo.”